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Wyeth Pharmaceuticals extends vaccine agreement

Date published: 16/01/2006

Wyeth is to extend its licensing agreement with the US vaccine firm AlphaVax. Under an agreement originally signed in 1998 Wyeth gained access to certain core alphavirus vector technologies controlled by AlphaVax to develop vaccines.

The extension of this agreement sees the two companies forming a closer collaboration and includes significantly increased financial terms and an equity investment in AlphaVax by Wyeth. AlphaVax president and chief executive Peter Young said: "It is clear that vaccines are an increasingly important public health priority in a wide variety of diseases and biological threats, and this reality is driving significant new growth and investment.

"Our Wyeth relationship has played an important part in our development since the inception of our company, and this new agreement is a very gratifying confirmation of not only our technology's considerable promise but the progress AlphaVax has made as well." The financial terms of the agreement have not been disclosed.

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